Sanjo Investments

Commercial Brokerage and Property Management

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Multi-Tenant, Leased Investment
Excellent development potential for multi-family residential or self-storage facility

SOLD


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Location:
4040 Del Rey Avenue,
4051 Glencoe Avenue,
13440 - 13454 Beach Avenue,
Marina del Rey, CA 90292

Zoning:
LAM1-1, LACM(GM)
Glencoe/ Maxella Specific Plan

Excellent development potential for
multi-family residential, or self-storage facility

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Property Description

100% Leased and Stabilized Property consisting of 28 Industrial Suites of Flexspace: warehouse, office, studio, creative spaces, design spaces, etc... ranging in size from 1,100 sq.ft to 2,800 sq.ft.
Excellent condition, A/C, Heating, ample parking, ideal location.

The Subject Property is located in the Glencoe/Maxella Specific Plan boundaries in Marina Del Rey, California 90292 and is in Council District 11 plan area Palms - Mar Vista - Del Rey. The project site is approximately one block east of Lincoln Blvd and one block south of Washington Blvd in Marina del Rey. This is a growing, affluent coastal community that is part of the City of Los Angeles. A Limited Partnership has owned and operated the property for the past 28 years as a multi-tenant industrial park. The Marina Del Rey neighborhood in which the property is located has experienced rapid change and explosive growth in the past 10 years. The area was previously zoned M and CM and was largely occupied by industrial manufacturing and industrial service users.

The property consists of three lots:

4040 Del Rey Avenue: Lot 37 of Wright’s addition to Ocean Park, in the city of Los Angeles, County of Los Angeles, State of California, as per map recorded in Book 5, Page 174 of Maps, APN: 4230-004-022, in the Office of the County Recorded of said county. The Parcel is approximately 41,077 square feet of land with a single story multi-tenant industrial building of of approximately 20,850 square feet.

4051 Glencoe Avenue: Lot 54 of Wright’s addition to Ocean Park, in the City of Los Angeles, County of Los Angeles, State of California, as per map recorded in Book 5, Page 174 of Maps, APN: 4230-004-333, in the Office of the County Recorded of said county. The Parcel is approximately 40,380 square feet of land with a single story multi-tenant industrial building of approximately 20,350 square feet.

13440 - 13454 Beach Avenue (18,360 square feet of land with a single story stucco multi-tenant building). The subject property is located on the south side of Beach Avenue, between Glencoe Avenue on the East and Del Rey Avenue on the West, within the Glencoe/Maxella Specific Plan boundaries. The property is further identified by Assessor Parcel Numbers 4230-004-012 and 4230-004-037. The property is contiguous to 4040 Del Rey Avenue and 4051 Glencoe Avenue as described above. The Parcel at 13440 Beach Avenue is approximately 4,558 square foot of land with a 1,800 square foot wood frame structure. 13454 Beach avenue is approximately 13.801 square feet of land that has been paved for a parking lot.

View Assessor Parcel Map

Specific Plan Exception - Conditional Use - Plan Review for Self-Storage

In 2007, the Limited Partnership had been granted an exception to the Glencoe/Maxella Specific Plan that permits them to build a self-storage facility at an FAR of 1.5:1. The ownership was granted a Conditional Use to permit for the construction of a self-storage building with a floor area ratio of 1.5:1 (total floor area of all buildings on the lot not to exceed one-and-one half times the buildable area of the lot). The conditional approval for the commercial self-storage building had a height limitation of 45 feet with no more than 156,705 square feet of building.

The above information is provided for reference purposes only, no representations or warranties are being made by the broker Sanjo Investments or the Ownership that a project as described above can be constructed in the future.

The original Case Number for the project number was:

APCW 2006-8443-SPE-U-SPR;
CEQUA: ENV 2006-8444-MND

Copies of which may be available from the West Los Angeles Area Planning Commission, 200 North Springs Street, Room 532, Los Angeles, California 90012-4801, (213)-978-1300;
Website: http://planning.lacity.org

Interior photos of a sample unit:

Contact:

Ernie A. Farhat
e-mail: farhat@sanjoinvestments.com
Office: 310-645-8700
Office Fax: 310-645-4540

Alejandro Szita
e-mail: aszita@sanjoinvestments.com
Direct: 858-531-7967
Office: 310-645-8700
Office Fax: 310-645-4540